Antimony Market Growth Is Encouraged By Demand For Safety Policies And Increasing Use For Plastic Additive Applications Till 2023 | Million Insights

According to new report available with Million Insights, increase in demand for flame retardants with regards to consumer electronics, household products, toys, clothing, rise in demand for gadgets like tablets, calculators, smart watches, smartphones, etc. are some of the driving factors of antimony market

Global antimony market is estimated to grow considerably in the years to come owing to the rapid development in metal and electronic industries. Antimony is a chemical element that occurs naturally. The semi-metallic chemical is present in chemical compounds like antimony (II) sulfide. Pure antimony is used to manufacture different types of semiconductor devices like infrared detectors and diodes. It is a bad conductor of heat and electricity and expands on cooling. Antimony is extremely traditional element that holds wide applications.

Increase in demand for flame retardants with regards to consumer electronics, household products, toys, clothing, rise in demand for gadgets like tablets, calculators, smart watches, smartphones, etc. are some of the driving factors of antimony market. Composites are widely used as a substitute to all the traditional materials in multiple applications in construction, aerospace, automobile, etc.

Additionally, growing demand for safety policies and increasing use for plastic additive application is encouraging the market growth. Hence, fiberglass composites are also fueling the market growth since they possess high strength property. However, overexposure of antimony is expected to affect human health adversely and the environment, which will ultimately hamper the market growth.

Investigation of new developed antimony reserves and recycling of antimony are expected to bring more opportunities in the market. Nevertheless, the rising geo-political tension is expected to challenge the market. The market is categorized on the basis of product type, application, end user and geography. On the basis of product type, market is divided into alloys, trioxides, and others. Trioxides segment is predicted to lead the market owing to its increasing use in household goods, toys, consumer electronics, flame retardants, etc.

In terms of application, market is split into plastic additives, flame retardant, glass and ceramics, lead acid batteries and others. Flame retardant segment is anticipated to lead the market owing to its increasing demand for several applications. Based on end user, market is divided into automotive, electronics and electrical, chemical and others. Chemical industry followed by automotive industry ae expected to hold larger share of antimony market owing to its use in flame stabilizer, catalyst & synergist in chemical industry and for the making of lead acid batteries in automotive sector.

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